Home /
Expert Answers /
Economics /
16-consider-the-production-possibility-frontier-of-an-economy-in-figure-1-1-what-is-the-opportuni-pa881
(Solved): 16. Consider the production possibility frontier of an economy in Figure 1-1. What is the opportuni ...
16. Consider the production possibility frontier of an economy in Figure 1-1. What is the opportunity cost of moving from point B to point C to produce 5 more apples? 15 computers. 5 computers. 25 computers. 10 computers.
The production possibility frontier shows the maximum combinations of two goods that an economy can produce with its given resources and technology. The opportunity cost of producing an additional unit of a good is the amount of another good that must be given up.Assuming that the production possibility frontier is a straight line, we can calculate the slope of the line at points B and C to determine the opportunity cost of producing 5 more apples.